The market is still trading firm due to sustained buying from the Bankex, Capital goods, Metal and Oil & Gas baskets. The market opened with a bang tracking the firm cues from the global markets and strong move by RBI in cutting its benchmark interest rates. The move comes close with the US Federal Reserve’s cut in its benchmark interest rates by 0.5% to 1% on October 30 and Bank of Japan’s cut in interest rates from 0.5% to 0.3%.
The market also got a boost from the assurance by Prime Minister to Business leaders that the government will take all the necessary monetary and fiscal policy measures to protect growth The market breadth is extremely strong as 1853 stocks are trading in green while 666 stocks are trading in red. From the Sensex pack, 25 stocks are up while 5 stocks are trading on the backfoot.
At 2.34PM, the BSE Sensex is trading with handsome gains of 354.28 points at 10,142.34 and NSE Nifty is trading with gains of 93 points at 2,978.60. The BSE Mid Cap and Small Cap are trading higher by 118.63 points and 137.45 points at 3,318.65 and 3,902.56 respectively.
Reliance Infra leads from the Sensex pack with gains of 11.77% to trade at 510.50 while Satyam Computers slips by 2.82% to trade at Rs296.20.
The Oil and Gas index is trading with good gains of 175.54 points at 6,371.16. Pushing it are RNRL trading up by 13.89% at Rs49.60 in line with Aban Offshore by 7.72% at Rs857, Essar Oil by 7% at Rs89.45, HPCL by 5.06% at Rs200.50, RPL by 3.59% at Rs89.35, BPCL by 3.07% at Rs295, Reliance Industries by 2.72% at Rs1408.10, IOCL by 2.48% at Rs346.85.
The PSU index is gaining momentum as it is trading up by 175.45 points at 4,740.37. Leading the rally are Dredging Corp trading higher by 13.93% at Rs226.15 along with UCO bank by 11.09% at Rs30.55, SBI by 9.37% at Rs1213.50, Andhra bank by 8.62% at Rs46, Indian bank by 8.38% at Rs137.15.
Tata Motors gains 10.82% to trade at Rs187.9. The company said its right issue of Rs4,147 crore to part finance the purchase of Jaguar and Land Rover was fully subscribed with promoters picking up a majority stake. Under the rights issue, the company offered ordinary shares at a price of Rs 340 per share, aggregating Rs 2,186 crore. Further, it alloted ''A'' ordinary shares (shares with lower voting rights) at a price of Rs 305 a piece, amounting Rs 1,961 crore.
Maruti Suzuki trading up by 5.58% at Rs594.65. The company registered highest ever retail sales in the month of October.
The market also got a boost from the assurance by Prime Minister to Business leaders that the government will take all the necessary monetary and fiscal policy measures to protect growth The market breadth is extremely strong as 1853 stocks are trading in green while 666 stocks are trading in red. From the Sensex pack, 25 stocks are up while 5 stocks are trading on the backfoot.
At 2.34PM, the BSE Sensex is trading with handsome gains of 354.28 points at 10,142.34 and NSE Nifty is trading with gains of 93 points at 2,978.60. The BSE Mid Cap and Small Cap are trading higher by 118.63 points and 137.45 points at 3,318.65 and 3,902.56 respectively.
Reliance Infra leads from the Sensex pack with gains of 11.77% to trade at 510.50 while Satyam Computers slips by 2.82% to trade at Rs296.20.
The Oil and Gas index is trading with good gains of 175.54 points at 6,371.16. Pushing it are RNRL trading up by 13.89% at Rs49.60 in line with Aban Offshore by 7.72% at Rs857, Essar Oil by 7% at Rs89.45, HPCL by 5.06% at Rs200.50, RPL by 3.59% at Rs89.35, BPCL by 3.07% at Rs295, Reliance Industries by 2.72% at Rs1408.10, IOCL by 2.48% at Rs346.85.
The PSU index is gaining momentum as it is trading up by 175.45 points at 4,740.37. Leading the rally are Dredging Corp trading higher by 13.93% at Rs226.15 along with UCO bank by 11.09% at Rs30.55, SBI by 9.37% at Rs1213.50, Andhra bank by 8.62% at Rs46, Indian bank by 8.38% at Rs137.15.
Tata Motors gains 10.82% to trade at Rs187.9. The company said its right issue of Rs4,147 crore to part finance the purchase of Jaguar and Land Rover was fully subscribed with promoters picking up a majority stake. Under the rights issue, the company offered ordinary shares at a price of Rs 340 per share, aggregating Rs 2,186 crore. Further, it alloted ''A'' ordinary shares (shares with lower voting rights) at a price of Rs 305 a piece, amounting Rs 1,961 crore.
Maruti Suzuki trading up by 5.58% at Rs594.65. The company registered highest ever retail sales in the month of October.
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